USDA RURAL DEVELOPMENT RECOGNIZES MILLION DOLLAR LENDERS
TEMPLE,
TEXAS, October 26, 2007
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USDA RURAL DEVELOPMENT RECOGNIZES MILLION DOLLAR LENDERS
TEMPLE,
TEXAS, September 20, 2006
— USDA Rural Development State Director, Bryan Daniel,
has announced that Trinity Mortgage Services has been
recognized as a Million Dollar Lender in the Guaranteed
Rural Housing loan program. To highlight this
achievement, an award was presented to Lou Ann
Bransford, owner of Trinity Mortgage Services, at the
Guaranteed Rural Housing Lenders Meeting held last week
in Temple, Texas. To receive this recognition, the
recipient must have loaned over $1 million while
maintaining a low delinquency.
“Together, USDA Rural
Development and Trinity Mortgage Services work as a team
to provide opportunities for rural Texas homeowners,”
said Daniel. “Our Guaranteed Rural Housing Loan Program
is the best option for eligible low and moderate-income
applicants to move into a home without a down payment.”
Trinity Mortgage Services,
located in Palestine, Texas, and established in 2001,
provides USDA Rural Development Guaranteed Rural Housing
loans along with other mortgage loan products throughout
the state of Texas.
USDA Rural Development
Guaranteed Rural Housing loans are a more affordable
alternative to other mortgage loan products that charge
monthly mortgage insurance. Other zero down programs
charge an up front mortgage insurance premium that is
due at closing, with monthly mortgage thereafter. In
comparison, the Guaranteed Rural Housing Program offers
a significant savings to borrowers by charging a
one-time only guarantee fee that is due at closing, and
no monthly mortgage insurance. Typical savings for a
family can range between $20.00 and $50.00 per month.
Without expensive mortgage insurance premiums,
homebuyers can qualify for a “better” home, which could
mean the additional bathroom or bedroom that they may
desire.
Loans can be made to purchase
new or existing homes that meet Agency requirements. In
many cases most of the closing costs associated with
purchasing the house can be financed into the loan.
USDA Rural Development Housing
Programs target communities with populations of 10,000
or less and locations not closely associated with urban
areas. Under certain circumstances loans can be made in
towns and cities between 10,000 and 25,000 in
population. Never assume an area is not eligible.
The USDA Rural
Development local office that serves your area can be
located at
http://www.rurdev.usda.gov/tx/officeinfo.htm,
or call the State Office Housing Program at
